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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and equivalents $ 2,223 $ 3,351
Oil and natural gas sales receivables 1,902 2,336
Marketable equity securities 159 164
Commodity derivative asset -current 0 1,844
Other current assets 905 527
Real estate assets held for sale, net of selling costs 0 150
Total current assets 5,189 8,372
Oil, natural gas and helium properties under full cost method:    
Proved oil and natural gas properties 171,480 176,679
Less accumulated depreciation, depletion and amortization (109,950) (106,504)
Net oil and natural gas properties 61,530 70,175
Unproved helium properties, not subject to amortization 5,046 0
Net oil, natural gas and helium properties 66,576 70,175
Other Assets:    
Property and equipment, net 786 899
Right-of-use asset 612 693
Other assets 514 305
Total assets 73,677 80,444
Current liabilities:    
Accounts payable and accrued liabilities 3,814 4,064
Accrued compensation and benefits 436 702
Revenue and royalties payable 4,822 4,857
Commodity derivative liability - current 97 0
Asset retirement obligations - current 1,000 1,273
Current lease obligation 189 182
Total current liabilities 10,358 11,078
Noncurrent liabilities:    
Credit facility 7,000 5,000
Asset retirement obligations - noncurrent 17,983 17,217
Commodity derivative liability - noncurrent 77 0
Long-term lease obligation, net of current portion 515 611
Deferred tax liability 16 16
Total liabilities 35,949 33,922
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Common stock, $0.01 par value; 245,000,000 shares authorized; 28,052,959 and 25,333,870 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 281 253
Additional paid-in capital 221,092 218,403
Accumulated deficit (183,645) (172,134)
Total shareholders’ equity 37,728 46,522
Total liabilities and shareholders’ equity $ 73,677 $ 80,444